AUDUSD Seeks to Break the 0.73150 Barrier Following the Latest Setback


AUDUSD Price Analysis – January 20

AUDUSD seeks to surmount the 0.73150 as it recovers from its latest setback. The market can be seen to be zigzagging through an ascending channel, making consistently higher highs and higher lows. Price has made its first contact with the resistance level and has dropped to the lower border of the channel. The current rise from the lower border of the channel is expected to break the 0.73150 level.

AUDUSD Critical Levels

Resistance Levels: 0.73150, 0.74470, 0.75590
Support Levels: 0.72370, 0.71050, 0.69960

AUDUSD Seeks to Break the 0.73150 Barrier Following the Latest SetbackAUDUSD Long Term Trend: Bullish

A long-drawn consolidation that lasted from the beginning of 2021 till mid-2021 ended up in a 7% price drop. As soon as the price touched down at 0.71050, the market seeks recovery and cranked upward through a channel. However, at the third time of dropping to the lower border of the channel, the price unexpectedly slips through it and dropped further to the lower support at 0.69960.

Market buyers, however, aren’t giving in to depression as they seek immediate recovery. A “three-white-soldiers” candlestick pattern was used to ascend to the next price line. The market is rising further using another channel. Now, the price seeks to break the 0.73150 barrier. The Moving Average period 50 has dropped below the daily candles to provide support for the market. The Relative Strength Index now has its tip above the 50 mark.

AUDUSD Seeks to Break the 0.73150 Barrier Following the Latest SetbackAUDUSD Short Term Trend: Bullish

In the short term, the price has bounced off the lower border of the ascending channel and is now attempting to negotiate the first barrier moving forward, located at 0.72370. The odds are in favor of the bulls surmounting the major resistance at 0.73150. Once again, the MA period 50 is acting as support for the market as the RSI indicator is now in the bullish half of the chart.

You can purchase crypto coins here: Buy coins

Note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.